As rates rise, cap rates and property values will tend to fall but of course there are lots of other factors that can impact and override those.  

Of course, the main ingredient is not requiring a down payment, without a doubt the feature with the most impact.

Therefore, the change is painful.But I have to say one thing about it… One buyer I know would LOVE to have TRID requirements forcing her sellers to move out 3 days prior to closing, but it does not apply to her privately-financed residential transaction.

This forces me to act when I get calls like the one I got yesterday.

The impacts of the LLC on the down payment, mortgage/capital gains write offs, and cost of business are significant, plus I can see making mistakes in setting up the LLC as so much of the process is new all at one time.

I don't see it as a hindrance in any way (probably because I treat people fairly as a matter of practice).I argue in favor of getting your license, if only to force you to learn the material better.  

Force the seller to provide these to you for review before the contract terms go hard. 

Your passive income (i.e. cash flow) shouldn't be affected if the market takes a downturn unless the rental market around your properties also takes a downturn & you're forced to reduce rents to compete with others.  

Most lenders probably don't even understand the financial significance of how MI impacts your financial scenario.

He/she may be nicer and more optimistic than I have been forced to become, but I would think of what's in it for them a little bit.